The producers part of the OPEC+ alliance complied with the oil output cuts at 99 percent in December 2020, down from 101 percent compliance in November, sources at the OPEC+ group told Reuters on Thursday. The technical and ministerial panels of the alliance will meet in early February to discuss compliance and the state of the oil market, and the final number on OPEC+ compliance for December could slightly change before that, one of the sources in the group told Reuters. Earlier this month, tanker tracking firm Petro-Logistics estimated that OPEC+ group’s compliance with the oil production cuts fell to 75 percent in December 2020—one of the lowest levels since the pact was enacted in May 2020. According to Petro-Logistics’ estimates , even the leader of OPEC and the world’s top oil exporter, Saudi Arabia, saw its compliance decline by 10 percentage points to 92 percent last month. The […]